Royal Gold, Inc. $RGLD Stock Position Raised by Scotia Capital Inc.

Scotia Capital Inc. increased its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 78.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,890 shares of the basic materials company’s stock after acquiring an additional 2,598 shares during the quarter. Scotia Capital Inc.’s holdings in Royal Gold were worth $1,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. WPG Advisers LLC acquired a new position in shares of Royal Gold in the 1st quarter valued at $27,000. Cullen Frost Bankers Inc. raised its holdings in Royal Gold by 548.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock worth $31,000 after buying an additional 148 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Royal Gold during the first quarter valued at about $34,000. Blue Trust Inc. boosted its holdings in shares of Royal Gold by 56.8% in the second quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after buying an additional 71 shares during the period. Finally, Bayforest Capital Ltd boosted its holdings in shares of Royal Gold by 256.5% in the first quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company’s stock worth $40,000 after buying an additional 177 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on RGLD. CIBC boosted their price target on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Raymond James Financial set a $264.00 price objective on shares of Royal Gold in a research report on Thursday, November 6th. TD Cowen boosted their target price on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. BMO Capital Markets set a $240.00 target price on Royal Gold and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Gold in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.40.

Royal Gold Stock Down 1.3%

RGLD stock opened at $201.25 on Tuesday. The company has a 50 day moving average of $190.03 and a two-hundred day moving average of $179.46. The company has a market cap of $16.99 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 0.96 and a beta of 0.39. Royal Gold, Inc. has a 12-month low of $130.67 and a 12-month high of $209.42.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.24). Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company had revenue of $250.23 million for the quarter, compared to analysts’ expectations of $275.11 million. During the same quarter in the prior year, the firm earned $1.47 earnings per share. The company’s revenue was up 30.1% on a year-over-year basis. On average, research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from Royal Gold’s previous quarterly dividend of $0.45. Royal Gold’s payout ratio is currently 26.10%.

Royal Gold Company Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.